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Question - Bonnie's charitable contributions and AGI for the past four years were as follows:
2007 2008 2009 2010
AGI $50,000 $55,000 $58,000 $60,000
Contributions subject to the 50% limitation 40,000 29,000 25,000 10,000
Required: What is the amount of the charitable deduction for each year and the order in which the deduction and carryovers are used?
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Randall Company makes and distributes outdoor play equipment. Last year sales were $2,400,000, operating income was $600,000, and the assets used were $3,000,000.The return on investment (ROI) is:
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